A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors and to use for personal expenses, instead of engaging in any legitimate investment activity.
Except with Social Security, they spend the money generated on other expenses. No legitimate opportunity. If ANYONE but the government ran Social Security, they would be spending time behind bars.
Why is this held up as some great bastion of hope ?
As for welfare and social programs: It is not government's job to force me to have compassion.
1 year ago